Income statements of M Co. and K Co. for the year ended December 31, Year 9, are presented below: Additional Information

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Income statements of M Co. and K Co. for the year ended December
31, Year 9, are presented below:
Additional Information
Required:
(a) Prepare a consolidated income statement for Year
9.
(b) Now assume that M Co. is a private
company, uses ASPE, and chooses to use the cost method to report
its investment in K Co. Prepare M Co.’s income statement for Year 9
under the cost method.
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